Real core retail sales* growth declines… dollar surges, 10y finds support… Margin debt down for the first time since March 2020.

Margin debt down for the first time since March 2020.t.co/AjNCncNB5K pic.twitter.com/N3J0cEXnza

— Randy Woodward (@TheBondFreak) August 17, 2021

#USD hitting the top of the range, again! If it continues to rise from here, risky assets are likely to struggle. pic.twitter.com/2CVAUPTDS2

— jeroen blokland (@jsblokland) August 17, 2021

🤫you'd better believe the magic of Kerb-🧲🧲🧲#ES_F
Overnight low = 4,447
plunging a "whopping" 26 points at the low

the sky is falling,
USD up
Gold Up
VIX up
TSY-10Yr down
WTI crude down
& FX
risk-off across the board continued

Powell might declare:
state of emergency

🤣🍻 t.co/Cb8MTre0xn

— Kerberos007 (@kerberos007) August 17, 2021

this is the reflation trade last support

EURUSD pic.twitter.com/tIdkKWDL6a

— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) August 17, 2021

dollar surges, 10y finds support pic.twitter.com/7uVqKyhrvS

— Alastair Williamson (@StockBoardAsset) August 17, 2021

Real core retail sales* growth declined to just 3.4% in July on a smoothed six-month annualized basis

Retail sales are reported nominally so the series must be adjusted for CPI to get a "real" reading

Core = retail sales – vehicle & parts – gas stations – building materials pic.twitter.com/n0lFkfFpcn

— Eric Basmajian (@EPBResearch) August 17, 2021

Retail Sales Peaked in March and Have Declined Ever Since Stimulus Ended

Retail sales decreased 1.1% in July but medium-term charts tell the real story.

CHINESE 🇨🇳 TECH pic.twitter.com/NIwWmsTdwc

— Win Smart, CFA (@WinfieldSmart) August 17, 2021